This will make some cry... the funding had been APPROVED by the...

This will make some cry... the funding had been APPROVED by the provider they had done their DD and alls that was needed was GGP to accept the termsheet and it would have gone to contract stage an funds would now have been set up.

The pre application costs were paid by one of the IG and the No 2 shareholder at the moment. He has now lost that money because 2 weeks have past and GGP have not responded and in fact the funding provider has moved on.

With IG providing busness plans and cashflow projections to the funding provider we were able to have the money to Frac SRH#5, do the chemical drip feed for SRH#1 & 2, drilled and fraced ANOTHER SRH horizontal and go back to Fausse Point and drill because despite what SG says we believe there is good chance of oil & gas down low and upper at this location.

The IG have busted their collective backsides off to get comonsense to prevail since the EGM and over the Christmas New Year and things are still happening but it will most likely be ugly.